Chinese P2P lending platform Dianrong today announced their Series D worth $220 million. This latest funding was led by GIC Private Limited, Singapore’s sovereign wealth fund, along with CMIG Leasing, Simone Investment Managers, and other institutional and individual investors.

The new proceeds will be used for improving risk management, R&D and automation, M&A opportunities and international expansion plans with local partners.

Soul Htite, founder and CEO of Dianrong, said, “The addition of these distinguished global investors not only validates our past successes but reinforces our commitment to ‘The New Finance,’ which applies fintech to deliver greater financial freedom to Chinese families and small businesses. This latest capital injection will help us expand and accelerate these efforts and further drive sustainable and profitable business growth.”

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.